In the world of cryptocurrencies, one of the most common way to enhance your bitcoin mining easily by bitcoin tumbler.
Bitcoin tumbler or cryptocurrency tumbler is a method used in the cryptocurrency industry to conceal, disguise or create a diversionary tactic to prove where bitcoins are made or where it came from to protect people who are generating money in the bitcoin industry to make their whereabouts untraceable or trackable by potential threats. Information such as the amount of cryptocurrency, the bitcoin miner’s address and other transaction information are either concealed, disguised or hidden.
This type of service can be offered to a lot of potential ways particularly for a cryptocurrency fund that is identifiable or that is tainted along with others. This is to obscure the trail or any traces that goes back to the original source of the funds that were used during the transaction.
The main purpose of using bitcoin tumbler is to uphold anonymity of people using cryptocurrencies in their transactions considering currencies used are required to provide a public ledger in all of its current and past transactions. This is also an important aspect in the blockchain technology which powers the cryptocurrency industry.
In conventional method of dealing in the financial system, bitcoin tumbler is equivalent to the bank secrecy laws as aside from upholding anonymity, it is also required to remain the confidentiality of the bitcoin user and the bitcoin transaction that was processed and most of all it is used for privacy purposes.
However, bitcoin tumbler, is tainted with a controversy since there are numerous cryptocurrency users take advantage of its privacy by laundering funds illegally by mixing huge funds in a transaction that is protected by the bitcoin tumbler and this is certainly illegal as a violation of the anti-structuring laws in the cryptocurrency industry.
There was a petition that making bitcoin tumbler services illegal because of violating such laws imposed in the industry. This should be criminalized because of numerous cases involving plunder and other illegal transactions which has not been caught by authorities due to the concealment and privacy provided by bitcoin mixer.
Despite its tainted reputation, still a lot of people who utilizes cryptocurrencies largely use bitcoin mixer as one way to ensure that they remain anonymous and private in any transactions they make with their bitcoin accounts.
Bitcoin holds a lot of promise in the world of finance and one way to keep it safe from threats is through availing the bitcoin mixer services because a lot of blockchain services that offer cryptocurrency funds are often required to be transparent by providing a public ledger.
Companies that provides bitcoin mixing services are the ones that conceal or hide your current cryptocurrency transactions with a certain fee imposed to those who avail to its services and most of all these companies will turn your account anonymous. There are also other services available like the highly popular peer-to-peer bitcoin mixing where a group of cryptocurrency users mix or shuffle their bitcoin transactions and funds to create a diversion or confusion to those who want to breach their system.